Last week, the Times had a great article explaining the credit mess to the layperson:
Can’t Grasp Credit Crisis? Join the Club
Today it came out with another good article:
What Created This Monster?
I thought a hedge fund would collapse-- I didn't know an investment firm would.
I disagree with the first article that the crisis has been going on for 7 months (which would mean it started in September)-- I think it started in August with the first big dip in the market.
More news that the crisis is spreading into other areas of credit:
CIT Taps Credit Lines and Talks of Asset Sales
Time to short Visa?
Visa Has a $45 Billion Debut on Wall St.
The trend for IPOs these days is to start them off big, then bleed them [investors] dry:
The Blackstone Group
(Which I always confuse with Blackrock, Inc, which is on the good side of this equation.)
Reminds me of the end of the tech boom.
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